How to completely fail at customer retention

Alina VirstiukretentionLeave a Comment

customer retention mistakes

Do you want to get some customer retention strategies to make your business grow? Well, you can find this information all over the Internet. We can only teach you how to completely fail at customer retention. It’s a piece of cake to fall short, so read some valuable advice (and do the opposite, if you decide to retain customers).

Ignore the feedback of your customers

ignoring customers feedback

It’s not that easy to make a customer write a good review on your product. But don’t worry, once they are not satisfied, they will happily rate you with this desirable one star (out of five, of course) in the speed of a sound.

Not only they will leave critical review, they will pass their frustrations to their friends, family, colleagues, and, no doubts, will write about that on social media. If you think that customers’ reviews mean nothing to the others, think again. Most of the buyers are influenced by reviews or discussions about products on social media, as Word of Mouth is a powerful marketing tool.

If you do not consider the bad (and good as well) feedback of your buyers, you are on the right way…to fail at customer retention. Because what customer will stay with somebody who simply turn a deaf ear?

… and then ignore your competitors

If you want to fail at customer retention, relax and forget about competitors. Keep thinking you are the best in your field, and do not check out the innovations of your opponents. This is the best way to let them entice your customers.

Successful companies always keep an eye on their competition, on the tactics their opponents use to talk to existing customers, on marketing strategies and much more. Moreover, they sacrifice much time for this activity, so you’d better calm down and use your time for something more pleasant. Like watching your good buyers leave (to the company that was keeping an eye on you).

Take customers loyalty for granted

customers loyalty

One of the ways to retain customer is to reward them for spending money in your brand. Unique and separate deals, offered to your most special customers, make wonders. Once the loyalty program is easy and simple, it retains even more buyers. Speaking not only to the wallets of your customers, but to their values is what makes an excellent loyalty program.

The non-monetary reward is very helpful in customer retention. It can be an access to beta release of a product, alternative shipping or payment options, or some enhances features of the product/service.

If your task is to slip up at customer retention, you’d better not follow the examples of these successful loyalty programs.

If you are seriously determined to fail at customer retention, read about these 8 fails of customer loyalty programs. Taking customers loyalty for granted is a highway to customer retention collapse.

Do not segment your customers

The customer segmentation not only divides your customers into groups, but allows you to design a perfect customer retention model. Segmentation makes your offers more appealing and builds loyalty and trust.

The better your customer segmentation is , the better your response to your buyers is. They feel that your communication is customized, and their interests and needs are specifically addressed.

Customer segmentation brings higher conversion rates and, most important, long-term revenue from customer retention.

So, if you want to fail at customer retention, skip the customer segmentation process. StackTome cannot help you fail, but if you decide that you need to succeed in customer retention, it can be really helpful.

Never measure customer lifetime value

If you don’t want to get your customers back, never measure the customer lifetime value. The higher this metrics is, the more efforts and  you should invest in retaining your customers, as they can bring the most profit to your company. But why to invest, if you can simply ignore the customer lifetime value and fail at customer retention?

Moreover, do not even read this piece of advice how to boost your profit with customer lifetime value increase.

Don’t provide an excellent customer support

customer service for customer retention

Poor customer service in business is one of the major reasons why good buyers leave. According to surways, 78%  of buyers skip the purchase because of a poor service.

You can fail at customer retention here on many levels: from initial purchase stage to follow up sale. There are also many possible channels for screw up: email customer support, phone calls, social media, live events etc.

If you want to fail in customer retention, make sure your customer support is really poor: do not give your support teams enough autonomy (otherwise your customers might get too delighted), do not create any focus groups or customer surveys for the feedback. What’s more, don’t even try to find a solution to each customer product – you can never please everybody.

And remember, customer support is not a place for excellent communication, positivity and patience. Otherwise you might succeed in customer retention. And this is something you don’t really want, do you?

Skip the content marketing

content marketing

 

The power of content marketing for customer retention is huge. So if you really want to fail at making your customers come back, simply skip this part. Easy to read and well crafted e-mail newsletters are only making your clients buy more, educational blogs ensure trust and build strong relationship, and social media marketing not only help you retain customers, but also allure new ones. And you don’t need this burden, do you?

So you’d better save money and do not hire professionals in content marketing. Just do it on your own. Or do not do at all. The less you care about content marketing, the less customers stay with you – as easy as a pie.

Warren Buffett, one of the most successful investors of all time, said that it takes only five minutes to ruin the reputation you’ve been building for twenty years.

It is as easy as ABC to make the good buyers leave. You just need to follow the advice above. But are you so rebellious and still want to get success at customer retention? Then don’t listen to our advice – do the opposite, and enjoy watching your customers come back. StackTome will help you do that.

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